Critical Team Members for Your First Multifamily Syndication

ASK MIKE MONDAYS - When you are looking to do your first multifamily syndication, who are your criti...

oldcapitalpodcast oldcapitalpodcast | 7 years ago

Ask Mike Mondays - When rehabbing a value-added property; where do you start first?

oldcapitalpodcast oldcapitalpodcast | 7 years ago

Always have a physical due diligence report done BEFORE you buy the property. Make sure that you understand the rental submarket and the tenant demographics. Rely upon the information from a qualified property management company that operates in the same submarket. Don’t over improve the asset too much for the submarket; if the market doesn’t recognize the improvement (pay you more rent) you could have thrown good money after a bad idea. Listen to Michael's thoughts

ASK MIKE MONDAYS - How do you buy you first apartment transaction?

oldcapitalpodcast oldcapitalpodcast | 6 years ago

Michael understands your first transaction is the toughest. Michael owns over 5200 units, but the toughest one was going from ZERO to ONE. Michael gives you the insight on what you should do to get a “win” on the board.

ASK MIKE MONDAYS - “Michael, when you first got into multifamily- What was the biggest MISTAKE you...

oldcapitalpodcast oldcapitalpodcast | 2 years ago

Michael explains the LARGEST and COSTLIEST mistake he made in buying multifamily: mismatching his mortgage debt with his business plan. The future is not clear- so you must use past experiences to make future business decisions. Michael thought choosing a longer-term fixed rate loan, with the expectations of interest rates rising in the future, would be a prudent business decision. Unfortunately, it was not. His loan was 10 years…but his business plan was to only keep the property for 3-5 year...

Old Capital Real Estate Investing Podcast with Michael Becker & Paul Peebles: ASK MIKE MONDAYS: “M...

Nationwide Commercial Real Est... Nationwide Commercia... | 1 year ago

As you can imagine, with interest rates rising, many apartment investors have been pencils down. Investors are concerned with lower asset value & higher debt service. Is there any good news out there? What are some of the positive ideas that are occurring in apartment investing? Mike is starting to see some positive “green shoots.” Mike discusses some of those encouraging thoughts on what he is seeing in apartment investing. Listen to the guy that has acquired over 14,000 apartment units. Ar...

ASK MIKE MONDAYS - I want to get smart in multifamily; what do YOU read?

oldcapitalpodcast oldcapitalpodcast | 6 years ago

Mike initially focuses on high level national apartment market data and then general economy status and then shifts to local and regional apartment market information. He breaks his data sources into two different categories. Pay: CoStar.com, yardimatrix.com, alndata.com/market-reviews/, axiometrics.com, realpage.com/yieldstar/mpf-apartment-market-updates-trends-webcasts/ Free: bisnow.com, multifamilyexecutive.com/business-finance/business-trends/ nreionline.com, connect.media, francemediainc.c...

ASK MIKE MONDAYS - When underwriting a transaction; what ASSUMPTIONS do you use? Do you use a sensit...

oldcapitalpodcast oldcapitalpodcast | 6 years ago

Michael and Jonathan Ferrell discuss the economic assumptions that investors must make when purchasing a property.

ASK MIKE MONDAYS - Mike, when considering at a possible apartment acquisition; what is the first thi...

oldcapitalpodcast oldcapitalpodcast | 5 years ago

You may have to look at several apartment opportunities BEFORE you find the right one. The ability to underwrite a transaction quickly will help you make swift decisions on whether to pursue with additional analysis time or drop the deal. Mike discusses the specific documents the seller needs to provide you to analyze the transaction correctly.

ASK MIKE MONDAYS - When you ask “for the money” from your investors, what is important for your ...

oldcapitalpodcast oldcapitalpodcast | 6 years ago

Typically on a capital raise you want to have a pre-existing relationship with your potential investor. The number one question that you must answer for the investor is A) How are they going to get their money back; B) What is the timeline going to be. Also, make sure that your debt lines up with a similar maturity as your investment strategy. Originating a new short term loan on a long term investment strategy is probably not going to work. Make sure that you contact a qualified attorney that c...

ASK MIKE MONDAYS - What do lenders look for when approving an apartment loan?

oldcapitalpodcast oldcapitalpodcast | 7 years ago

70% of the lending decision is based on the building operations (historical and future) and 30% is based on the sponsor (liquidity, net worth, past ownership experience of apartments) Listen to Michael explain what’s important in apartment financing.